Ted Livingston, Kik CEO, expressed this opinion on blockchain tech and it’s not what everyone expected. Despite raising over $100 million through an ICO for his company last year, Livingston came out with a rather negative statement towards blockchain during the True North tech conference, saying:
“Almost nobody should be looking at it.”
He continues on to explain that it is not likely to create any value for businesses:
“Unless you’re trying to build one of the most-used cryptocurrencies in the world, it’s very low odds that blockchain is going to create value for you.”
Talking from his experience with his company’s digital token, the Kin, Livingston believes that the tech wasn’t “very convincing” when it comes to practical usage, except, of course, in the case of bitcoin and other top altcoins.
With regards to the other applications of blockchain tech, Livingston had this to say:
“What does blockchain do at the end of the day? It allows you to have a database that’s trustless. That can be applied in a bunch of ways, but most of those ways, you still need trust.”